By EUGENE MAHALINGAM
KUALA LUMPUR: Newly listed construction outfit Ikhmas Jaya Group Bhd is confident of achieving double digit growth in net profit for its current financial year ending Dec 31, 2015.
Group managing director Datuk Ang Cheng Siong said the projection is based on existing projects it has currently, as well as potential jobs it is planning to secure.
"We're tendering for infrastructure jobs, such as construction of roads and development of affordable houses," he said after the company made its debut in the main market of Bursa Malaysia on Monday.
He added that this was also substantiated based on the company's earnings in the first quarter of the year.
Ikhmas Jaya posted a 93.4% jump in net profit to RM8.49mil for the first quarter ended March 31, 2015 compared to a year earlier, thanks mainly to the contribution of a railway track project.
The engineering and construction firm said told Bursa Malaysia its revenue rose 35.9% year-on-year to RM76.34mil for the quarter.
The company staged a strong debut on Main Market of Bursa Malaysia on Monday amid a weaker market.
It opened at 68 sen, up 11 sen from its offer price of 57 sen.
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